Blum Holdings BLMH

Blum Holdings, Inc. is a holding company that oversees a portfolio of subsidiaries engaged in the medical and adult use cannabis sector in California. The company’s subsidiaries include Blum Management Holdings Inc a Delaware corporation Safe Accessible Solutions Inc a California corporation Coastal Pine Holdings Inc a Wyoming corporation Westcoast Management Holdings Inc a Wyoming corporation and Blum A2 Inc a Delaware corporation. Its corporate headquarters are located at 11516 Downey Avenue Downey California 90241 and the main telephone number is (888) 909 5564. Blum Holdings Inc describes itself as a publicly traded holding company with operations throughout California committed to providing the highest quality of medical and adult use cannabis products and related services. The company owns the Korova brand of high potency products across multiple product categories which are currently available in California. It has previously operated retail stores under the Blum name in Oakland San Leandro and Santa Ana all of which have been sold in 2024. In May 2024 the company began managing the retail store Cookies Sacramento and providing consulting services for two additional dispensaries in Northern California.

The company generates revenue primarily through the sale of medical and adult use cannabis products at its retail locations and through delivery services that serve customers who prefer not to visit a storefront. Revenue also arises from the licensing and distribution of its Korova brand which is manufactured by third party partners and sold to dispensaries across the state. In addition Blum Holdings Inc receives fees for consulting and management services provided to other cannabis operators such as the agreement to manage Cookies Sacramento and to advise two additional dispensaries in Northern California. The combination of retail sales delivery fees brand licensing and consulting income constitutes the core of the company’s revenue stream.

The company operates through the following segments: Cannabis Retail and Cannabis Distribution.

• Cannabis Retail includes the operation of physical storefronts and non store front delivery services that sell medical and adult use cannabis flowers edibles concentrates topicals and related accessories to consumers.
• Cannabis Distribution comprises the company’s branded product activities whereby the Korova line is formulated and produced by third party manufacturers and then distributed to licensed dispensaries throughout California either directly or through established distribution partners.

Blum Holdings Inc positions itself as a participant in the California cannabis market which is characterized by a large number of licensed operators and intense competition for consumer share. The company differentiates itself through the Korova brand which enjoys recognition for high potency products and through its portfolio of retail assets that have historically served substantial daily customer counts. While the company faces competition from both established multi state operators and numerous local dispensaries its focus on a limited geographic footprint in California allows it to concentrate resources on regulatory compliance and operational efficiency. The company’s ability to offer both retail access and a branded product line provides a dual revenue model that can help mitigate fluctuations in any single segment.

The company serves both medical patients and adult use consumers who purchase cannabis products at its retail locations or through delivery. Specific retail operations that have contributed to the customer base include the formerly operated Blum Oakland dispensary Blum San Leandro dispensary Blum Santa Ana dispensary and the currently managed Cookies Sacramento outlet. Additionally the company has provided consulting services to two other dispensaries in Northern California whose names are not disclosed in the filing. The Korova brand is distributed to a wide network of licensed dispensaries throughout the state which represent another important group of customers for the company’s wholesale activities.